XSPC
Wall Street just showed up with pom-poms
SpaceX is getting the kind of first-day-of-school attention that makes a freshly public stock feel very much like the main character. In a new batch of initial coverage, BofA, RBC, Needham and Cantor all came out swinging with bullish calls on SPCX, with targets ranging from $200 to $246.
Why the bulls are leaning in
The pitch is basically: SpaceX is no longer just a rocket launcher with cool merch. Analysts are pointing to a bigger machine — launch, Starlink, Starship, orbital compute, and a vertically integrated stack that sounds more like a sci-fi empire than a company.
A few of the highlights:
- BofA says SpaceX is building the “superhighway to the stars,” with recurring revenue from Starlink doing a lot of the heavy lifting.
- RBC thinks the company sits right at the crossroads of space and AI, which is Wall Street code for “this could get expensive, fast.”
- Needham points to Starlink’s 10.3 million subscribers and $11.4 billion in 2025 revenue as proof the business is already more than a moonshot.
- Cantor called SpaceX “vertical integration at civilizational scale,” which is a phrase that probably earned at least one intern a high-five.
So why is the stock still sliding?
Because even great hype can trip over its own shoelaces. The shares were down 4.86% on Tuesday to $152.63, even after analysts piled in with upbeat ratings and targets. That tells you the market may be wrestling with valuation, lock-up overhang, or just the classic post-IPO “show me the money” mood.
Big picture
This isn’t a “SpaceX has arrived” story so much as a “Wall Street is racing to assign a price to a company that doesn’t fit neatly in any spreadsheet” story. If the bullish thesis around Starlink, Starship, and orbital compute keeps building, SPCX could stay one of the market’s loudest debates — and maybe one of the messiest too.